portfolio and business snapshot - igd siiq spa · pdf fileportfolio and business snapshot. ......

Stand R7.M1

PORTFOLIO AND BUSINESS

SNAPSHOT

Winmarkt: shopping in the heart of the cityAcquired in 2008 by the real estate Italian company Immobiliare Grande Distribuzione (IGD), Winmarkt is the most widespread network of shopping centers in Romania.

Winmarkt’s portfolio includes 15 shopping centers and an office building, located in the central areas of 13 cities.

Location is location Winmarkt assets were built downtown to represent the meeting point and the main shopping destination for the customers who live in each city.

This is why, city by city and irrespective of the competition, Winmarkt roots firmly inside people’s life experience.

Winmarkt: cumpărături în inima oraşuluiAchiziţionată în 2008 de compania italiană Immobiliare Grande Distribuzione (IGD), Winmarkt este cea mai extinsă reţea de centre comerciale din România.

Portofoliul Winmarkt cuprinde 15 centre comerciale şi o clădire de birouri, situate la kilometrul 0 al fiecăruia dintre cele 13 oraşe.

Locaţia este totul Centrele comerciale Winmarkt sunt construite în centrul oraşelor pentru a reprezenta principala destinaţie comercială şi locul preferat de întâlnire al locuitorilor.

De aceea, în fiecare oraş şi indiferent de concurenţă, Winmarkt face parte din viaţa cotidiană a oamenilor.

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Company visionWe consider the Romanian market trends as being similar to the ones experienced 15 years ago in Western Europe.

The winning idea of enhancing a downtown located network of shopping centers drives our management’s vision.

The global crisis speeded up the evolution of the Romanian retail market, by accelerating its modernisation.

Viziunea companieiConsiderăm că tendinţele pieţei româneşti sunt similare cu cele de acum 15 ani din Europa de Vest.

Ideea câştigătoare de consolidare a unei reţele de centre comerciale în centrul oraşelor a determinat viziunea managementului nostru.

Criza economică globală a grăbit evoluţia pieţei de retail din România prin accelerarea modernizării sale.

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2013-2015

2008-2013

Before 2008

REVIVAL MODERNIZATION new comers

ATTRACTION refurbishment

tailoringENHANCEMENT

GLOBAL CRISISADAPTATION renegotiations demand-driven

CONSOLIDATION refurbishment

tailoringSUSTAINABILITY

GROWTHDEVELOPMENT

over-renting offer-driven

NETWORK LAUNCH MAXIMIZATION

COUNTRY’S ECONOMY

RETAIL MARKET

WINMARKT PORTFOLIO

RENTALSTRATEGY

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Winmarkt networkALEXANDRIA BISTRITA

BRAILA BUZAU

CLUJ-NAPOCA GALATI

PIATRA-NEAMT PLOIESTI

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PLOIESTI RAMNICU-VALCEA

PLOIESTI

SLATINA TULCEA

TURDA VASLUI

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supermarketsupermarket

IT&electronice&telecomunicaţiiIT&electronic&telecom

haine&pantoficlothing&shoes

mâcare&timp liberfood&entratainment

cosmetice&farmaciecosmetics&pharmachy

alteleothers

25%

29%

20%

20%

1%

3%

MERCHANDISING MIX

PROPERTY OVERVIEWAddress: 242 Libertatii St. City: Alexandria, capital city of Teleorman countyInhabitants: 5,434GBA / GLA (sqm): 5,361 / 3,390 Description: GF + 3 floorsAverage monthly traffic: 143,000 Catchment area: 50,000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour Market, Leonardo, House of Art, Jolidon, Telekom, Casa Rusu, Pepco, Oficiul Registrului Comertului, Orange, Top Sport, WiniLand, GameLand.

LOCATION: city center

ALEXANDRIA

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alteleothers

31%

34%

12%

11%

4% 7%

PROPERTY OVERVIEWAddress: 17 Garii St. City: Bistriţa, capital city of Bistrita-Nasaud CountyInhabitants: 75,076 GBA / GLA (sqm): 8,223 / 5,534 Description: GF + 3 floorsAverage monthly traffic: 120,000 Catchment area: 100,000

MERCHANDISING MIX

SELECTED COMMERCIAL INFORMATION Key tenants: dm, B&B Collection, Jolidon, Domo, Reshoes, Kendra, Pepco, Sensiblu, GameLand.


BISTRITA

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bijuterii&cadourijewelry&gifts

alteleothers

13%

34%

18%

4%

8%

10%

12%

PROPERTY OVERVIEWAddress: 90 Mihai Eminescu St. City: Braila, capital city of Braila county Inhabitants: 180,302 GBA / GLA (sqm): 9,890 / 6,922 Description: UG + GF + 5 floorsAverage monthly traffic: 180,000 Catchment area: 260,000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour Market, dm, Sevda, Leonardo, Jolidon, Domo, Eurorom, Pepco, Vodafone, Telekom, GameLand.

MERCHANDISING MIX

BRAILA


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17%

44%

5%

28%5%

PROPERTY OVERVIEWAddress: 1st Daciei Square City: Buzau, capital city of Buzau county Inhabitants: 115,494 GBA / GLA (sqm): 9,890 / 5,629 Description: UG+GF + 4 FloorsAverage monthly traffic: 150,000 Catchment area: 130,000

SELECTED COMMERCIAL INFORMATION Key tenants: H&M, Carrefour Market, Coccodrillo, Pepco, Telekom, San Savana, Eurorom, WiniLand, GameLand.

MERCHANDISING MIX

BUZAU


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17%

23%

11%

29%

6%

1%

14%







alteleothers

PROPERTY OVERVIEWAddress: 19 Bucegi St. City: Cluj-Napoca, capital city of Cluj county Inhabitants: 324,576 GBA / GLA (sqm): 11,079 / 7,315 Description: UG+GF + 2 floorsAverage monthly traffic: 240,000Catchment area: 100,000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour Market, dm, Sensiblu, Big Fitness, Flanco.

MERCHANDISING MIX

CLUJ-NAPOCA


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12%

41%

6%

25%

1%

14%







alteleothers

PROPERTY OVERVIEWAddress: 24 Domneasca St.City: Galati, capital city of Galati countyInhabitants: 249,432GBA / GLA (sqm): 11,120 / 7,877 Description: UG + GF + 4 floorsAverage monthly traffic: 115,000 Catchment area: 300,000

SELECTED COMMERCIAL INFORMATION Key tenants: H&M, Billa, Bigotti, Eponge, Elite Gym, Massini, Sevda, Sabon, Pepco, WiniLand, GameLand, Sabon, CGS.

MERCHANDISING MIX

GALATI


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15%

59%

7%9%

20%

2%

7%







alteleothers

PROPERTY OVERVIEWAddress: 15 Decebal Blvd City: Piatra-Neamt, capital city of Neamt countyInhabitants: 85,055GBA / GLA (sqm): 10,459 / 6,020Description: UG + GF + 5 floorsAverage monthly traffic: 120,000 Catchment area: 110,000

SELECTED COMMERCIAL INFORMATION Key tenants: H&M, Billa, Leonardo, B&B Collection, Eponge, Kendra, Sevda, Reshoes, WiniLand.

MERCHANDISING MIX

PIATRA-NEAMT


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7%

24%

32%

14%17%3%

11% supermarketsupermarket






alteleothers

PROPERTY OVERVIEWAddress: 17-25 Republicii Boulevard City: Ploiesti, capital city of Prahova countyInhabitants: 209.945GBA / GLA (sqm): 30,355 / 17,496 Description: UG + GF + 4 floorsAverage monthly traffic: 510.000; Catchment area: 270.000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour market, dm, Adidas, Benvenuti, Kenvelo, Steilmann, Jolidon, KFC, Domo, Flanco, Help Net, Sensiblu, Kendra, B&B Collection, Vodafone, Orange, Banca Transilvania, Pepco, La Placinte, Eponge, Colonna, Sevda, Eurorom, San Savana, WiniLand, GameLand.

MERCHANDISING MIX

PLOIESTI


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PROPERTY OVERVIEWAddress: 1 Decembrie 1918, Nr. 4 City: Ploiesti, capital city of Prahova countyInhabitants: 209,945GBA / GLA (sqm): 8,848/4,197 Description: GF + 2 floors Catchment area: 370,000

21%

29%17%

23%

4%4% 1%







alteleothers

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour, Catena, Vodafone, Banca Transilvania.

MERCHANDISING MIX

PLOIESTI


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Office Building

PROPERTY OVERVIEWAddress: 17-25 Republicii BoulevardCity: Ploiesti, capital city of Prahova countyInhabitants: 209,945GBA / GLA (sqm): 3,167/ 3,012 Description: GF + 3 floors Catchment area: 270,000

SELECTED COMMERCIAL INFORMATION Key tenants: Oficiul de Cadastru Prahova, Sensiblu.

PLOIESTI


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PROPERTY OVERVIEWAddress: 127 Calea lui Traian St. City: Ramnicu-Valcea, capital city of Valcea county Inhabitants: 98,776 GBA / GLA (sqm): 11,427 / 7,822 Description: GF + 3 floorsAverage monthly traffic: 200,000 Catchment area: 130,000

15%

13%

41%

8%

19%







alteleothers

2%3%

SELECTED COMMERCIAL INFORMATION Key tenants: H&M, Carrefour Market, dm, Eponge, Jolidon, Leonardo, Vodafone, Orange, San Savana, GameLand, WiniLand.

MERCHANDISING MIX

RAMNICU-VALCEA


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alteleothers

11%

29%

18%

2%4%

35%

PROPERTY OVERVIEWAddress: 20 Bvd. Al. I. Cuza City: Slatina, capital city of Olt countyInhabitants: 70,293 GBA / GLA (sqm): 9,207 / 5,444 Description: UG + GF + 5 floorsAverage monthly traffic: 100,000 Catchment area: 110,000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour Market,Altex, Domo, B&B.

MERCHANDISING MIX

SLATINA


20

11%

32%

47%







alteleothers

2%

3%

PROPERTY OVERVIEWAddress: 1 Babadag St. City: Tulcea, capital city of Tulcea countyInhabitants: 73,707GBA / GLA (sqm): 6,442 / 4,011 Description: GF + 2 floorsAverage monthly traffic: 100,000 Catchment area: 100,000

SELECTED COMMERCIAL INFORMATION Key tenants: H&M, Domo, Altex, Leonardo,Telekom, Orange, Vodafone, Kendra.

MERCHANDISING MIX

TULCEA


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11%

29%

18%

PROPERTY OVERVIEWAddress: 34-36, Piata 1 Decembrie 1918 St. City: Turda, capital city of Cluj countyInhabitants: 47.744GBA / GLA (sqm): 3.942 / 2.545 Description: GF + 2 floorsCatchment area: 60.000

SELECTED COMMERCIAL INFORMATION Key tenants: Altex, Andrada Stil, Gameland.

MERCHANDISING MIX

TURDA


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16%

13%

41%

8%

7%





PROPERTY OVERVIEWAddress: 82 Stefan cel Mare St. City: Vaslui, capital city of Vaslui countyInhabitants: 55,407 GBA / GLA (sqm): 5,366 / 3,679 Description: UG + GF + 2 floorsAverage monthly traffic: 135,000 Catchment area: 70,000

SELECTED COMMERCIAL INFORMATION Key tenants: Carrefour Market, Domo, Jolidon, Reshoes.

MERCHANDISING MIX

VASLUI


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Real estate portfolio keystones

NETWORKThe most widespread network of shopping centers in Romania. The unique opportunity to develop retail business on a significant platform, consisting in all but one county capitals.

LOCATION All the assets are strategically positioned in the heart of each city, mainly in the central squares. The buildings’ visibility and accessibility are excellent.

FOOTFALL Opportunity to take advantage of an immediate and consolidate traffic, as the portfolio attracts monthly an average of 2.6 million visitors.

FLEXIBILITY The flexibility of the internal lay-out and the easiness of the administrative constraints grant the opportunity to quickly adapt the lay out to each kind of store format.

Elementele cheie ale portofoliului imobiliar

REŢEACea mai extinsă reţea de centre comerciale din România. Oportunitatea unică de a dezvolta afaceri de retail pe o platformă importantă constând în toate reşedinţele de judeţ, mai puţin una.

AMPLASARE Toate centrele sunt amplasate strategic în inima fiecărui oraş, în special în pieţele centrale.Vizibilitatea şi accesibilitatea centrelor sunt excelente.

TRAFIC Oportunitatea de a profita de un trafic imediat şi consolidat, întrucât portofoliul atrage lunar, în medie, 2.6 milioane de vizitatori.

FLEXIBILITATEFlexibilitatea configuraţiei interioare şi gradul redus al constrângerilor de ordin administrativ ne oferă oportunitatea de a adapta rapid configuraţia fiecărui format de magazin în parte.

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Business model keystones

STEADY POSITIONINGThe competition of the new malls - which opened in the periphery of the cities - is limited by the shopping habits and by the perception that they are over the consumption power of the wider population share.

BALANCED OFFERThe recent insertion of supermarket offer in most of the assets has enhanced the daily essential products purchase. New international fashion anchors are going to be brought in.

RISK FRAGMENTATION Being spread in 16 assets, the portfolio grants an effective risk fragmentation, for both sides: sales and rents.

SUSTAINABILITYThe business is performed based on the belief that the sustainability - especially in the areas of fair and ethic dealing, labor rights and environmental protection - is a competitive added value.

DIRECT MANAGEMENT Both property and lease services are directly managed by professionals with extensive knowledge on local markets and international business practices.

Elementele cheie ale modelului de business

POZIŢIONARE STABILĂConcurenţa noilor centre comerciale, deschise la periferia oraşelor, este limitată de obiceiurile de cumpărături şi de percepţia că sunt peste puterea de consum a majorităţii populaţiei.

OFERTĂ ECHILIBRATĂRecenta introducere a supermarketurilor în majoritatea centrelor noastre comerciale a sporit achiziţia zilnică a produselor de bază. Urmează să introducem noi magazine de modă internaţionale.

FRAGMENTAREA RISCULUI

Fiind format din 16 centre comerciale, portofoliul oferă o fragmentare eficientă a riscurilor pentru ambele părţi: vânzări şi chirii.

SUSTENABILITATEAfacerea se bazează pe convingerea că sustenabilitatea, în special în zonele comerţului etic şi echitabil, drepturilor angajaţilor şi protecţiei mediului, reprezintă o valoare adăugată competitivă.

MANAGEMENT DIRECT

Serviciile imobiliare şi de închiriere sunt gestionate direct de către profesionişti având cunoştinţe aprofundate în ceea ce priveşte pieţele locale şi practicile internaţionale de afaceri.

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Strategia de afaceri

REVIZIA BP IGD

2008-2012

2013

2014

2015

Imobiliare

RESTABILIREA SUPRAFEŢEI

ÎNCHIRIABILE&OPTIMIZAREA

FLUXULUI VERTICAL

OFERTA DEIMPLEMENTARE

MAGAZINEALIMENTARE

12 supermarketuri internaționale

CONSOLIDARE extinderea

duratei contractelor,

limitarea coteichiriașilor locali

VENITURI TOTALE

>70%

POLITICA DE DIVIDENDE

raport maxim după cheltuieli

de investiţii

POLITICA DE DIVIDENDE

raport maxim

IMPLEMENTAREPRACTICI PIAŢA

INTERNAŢIONALĂindexare,cifra de

afaceri chirie, etapa chirie

ANCORAINTERNAŢIONALĂ

OPTIMIZAREA CONSUMULUI

ENERGETIC

CHELTUIELIDE INVESTIŢIE de pregătire a portofoliului

pentru viitoarele

oportunităţi care apar pe o piaţă

în schimbare.

Oferta comercială Managementulcontractelor

Contribuţia pentru IGD

Business strategy

2008-2012

2013

2014

2015

Real Estate

NEW GLA RECOVERY&

VERTICAL FLUXOPTIMIZATION

GROCERYOFFER

IMPLEMEN-TATION

12 internationalsupermarkets

CONSOLIDATIONextension of the contracts

duration,restraint of thelocal tenants

share

EBITDA MARGIN

CONSOLIDATION

>70%

DIVIDENDPOLICY

maximum ratio aftercapital

expenditures

DIVIDENDPOLICY

maximum ratio

INTERNATIONALMARKET

PRACTICESIMPLEMEN-

TATIONindexation,

turnover rent,step rent

INTERNATIONALANCHORS

ENERGYCONSUMPTIONOPTIMIZATION

WINDOWDRESSING

capex to getportfolio ready

for futureopportunitiescoming froma changing

market

Commercial Offer Contracts Management Contribution to IGD

IGD BP REVISION

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Data as of 1H 20151EBITDA MARGIN = EBITDA/Total Revenues. Period 2012 - 2015. It considers the depreciations and the one-off costs2Period 2012 - 2015

Key figures

REAL ESTATE COMMERCIAL FINANCIAL

GBA sqm FOOTFALL yearly average EBITDA MARGIN1

portfolio 144,776 2012-2015 31,600,00 consolidated average >70%

GLA sqm MERCHANDISING sqm/rented FFO2 euro/month

retail 87,880 supermarkets 12% consolidated average ~ 550,000

office 3,012 electronics 13%

portfolio 90,892 clothing 35% COMMITTED CAPEX PLAN mil. euro

entertainment 12% <2014 10,5

OCCUPANCYothers 28% 2015 3,1

surface ratio 89% >2015 3,2

STORE SIZE sqm/rented

up to 100 sqm 13%

100-400 sqm 34%

over 400 sqm 53%

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SERVICIIAngajaţii Winmarkt formează o echipă internaţională care acoperă o arie vastă de cunoştinţe din domeniul real estate din România.

Construită într-o perioadă cu o piaţă puternic concurenţială, şi având susţinerea acţionariatului, unul dintre cei mai cunoscuţi jucători din piaţa europeană de real estate (IGD Group), echipa Winmarkt este în măsură să ofere o gamă largă de servicii complete, in-house.

SERVICESWinmarkt employees are an international team with a wide and in-depth knowledge of the retail-real estate field in Romania.

Built in a period of strongly competitive market’s dinamics and having behind one of the most European well known real estate shareholder (IGD Group), Winmarkt team is able to provide an in-house full-range services under one roof.

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Main Partners

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WINMARKT Olympia Tower Building, 25-29 Decebal Blvd. Bucharest, Romaniawww.winmarkt.ro | /WinmarktRomania | www.gruppoigd.it

"We care about everyone as if they were our customers, no matter they are tenants, suppliers or cleaners.

Having different approaches for different people is always revealed and makes it more difficult to add value, equally to business and life."

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